BUDGET OVERVIEW

About The Budget

•One of the most important City Council actions.

•Sets policy & financial course; influences every City activity.

•Defines service levels, program sizes & capital projects.

•The budgetary focus continues to be long-term financial stability.

•Balanced budget of $174M.

Where the Money Comes From

Property Tax Summary

Over the last 10 years, the City has collected only 13 cents (on average) for every $1 of property tax dollar paid.

Where Do Your Property Taxes Go?

Budget Takeaways

•About 1.7% increase over FY22.

•$35.4M in capital improvements/investments (street, alley, water, sewer, facilities, IT and equipment enhancements, etc.) with no bond issues planned for 2023.

•Debt has been reduced from $102.3M in 2005 to $9.4M in 2022.

•No increase in the City property tax levy.

•$20.3M dedicated to reserves. The City has maintained a 25% Fund Balance for 13 consecutive years.